July Sees Decline in Building Permits

Authorizations of units in buildings with five units or more were at a rate of 129,000 in July.
Courtesy of Village of Riverside, Ill.

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 565,000. This is 3.1 percent below the revised June rate of 583,000 and is 3.7 percent below the July 2009 estimate of 587,000. Single-family authorizations in July were at a rate of 416,000; this is 1.2 percent below the revised June figure of 421,000. 

From July 2009 to July 2010 building permits decreased by 3.7 percent, with a decrease of 13.2 percent for single units, but increase of 5.3 percent for 2 go 4 units and increase of 44.9 percent for 5 or more units.

The South was the region that fared the best with an overall increase of 2.1 percent, with a decrease of 14.3 percent for single units. The region that fared the worst was the Midwest, with an overall decrease of 15.6 percent and decrease of 17.1 percent for single units.

-  Courtesy of US Census Bureau